J. P. MORGAN
John Pierpont Morgan I (April 17, 1837 – March 31, 1913) was an American financier and banker, who at the turn of the century (1901), was one of the wealthiest men in America.
John was born in Hartford, Connecticut to Junius Spencer Morgan (1813–1890); and Juliet Pierpont (1816-1884) of Boston, Massachusetts. Junius was a partner of George Peabody and the founder of the house of J. S. Morgan & Co. in London. John Morgan was educated at the English High School of Boston and at the University of Göttingen. He was a prominent member of the Protestant Episcopal Church.
John Pierpoint Morgan
From 1857 to 1861 Morgan worked in the New York City banking house of Duncan, Sherman & Company. In 1861 he married Amelia Sturges (1835-1862). She was the daughter of Jonathan Sturges and Mary Pemberton Cady. After her death he married Frances Louise Tracy (1842-1924) on May 3, 1865 and they had the following children: Louisa Pierpont Morgan (1866-?) who married Herbert Livingston Satterlee (1863-1947); Jack Pierpont Morgan (1867-1943); Juliet Morgan (1870-?); and Anne Morgan (1873-1952).
From 1860 to 1864, he was an agent and attorney in New York for George Peabody & Co. of London. Afterwards, for its successor, J. S. Morgan & Co. he became its head. From 1864 to 1871, the firm of Dabney, Morgan & Company accepted Morgan as a member. In 1871, he entered the firm of Drexel, Morgan & Co., in which he was associated with Anthony J. Drexel, of Philadelphia, upon whose death in 1893 he became senior partner.
In 1895 the firm became J. P. Morgan & Co. Closely associated with Drexel & Co. of Philadelphia, Morgan, Harjes & Co. (successors to Drexel, Harjes & Co.) of Paris, and, Morgan, Grenfell & Co. (before 1910 J. S. Morgan & Co.) of London. J. P. Morgan & Co. became one of the most powerful banking houses in the world. Its accomplishments were numerous. J. P. Morgan & Co. financed the formation of the United States Steel Corporation, which took over the business of Andrew Carnegie and others and was the world's first billion-dollar corporation. J.P. Morgan & Co. incorporated in 1940. In 1912, the Pujo Committee, a subcommittee of the House Banking and Currency committee, found that the partners of J.P. Morgan & Co. along with the directors of First National and National City Bank (the triple alliance of interlocking directorates dominated by Morgan) controlled aggregate resources of $22,245,000,000. Louis Brandeis, the former U.S. Supreme Court Justice, compared this sum to the value of all the property in the twenty-two states west of the Mississippi River (which excluded Alaska and Hawaii).
In 1891 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. In 1895, J. P. Morgan & Co. supplied the United States government with $62 million in gold to float a bond issue and restore the treasury surplus of $100 million. In 1902, J. P. Morgan & Co. purchased the Leyland line of Atlantic steamships and other British lines, creating an Atlantic shipping combine, the International Mercantile Marine Company, which eventually became the owner of White Star Line, builder and operator of RMS Titanic. In addition, J P Morgan & Co (or the banking houses which it succeeded) bought and reorganised 4 of the 5 American major railroads between 1869 and 1899.
John Pierpoint Morgan - self-conscious about his rosacea,
he hated to be photographed
Death and aftermath
J. P. Morgan died in 1913 while visiting Rome, Italy. His remains were returned to the United States for interment in the Cedar Hill Cemetery in his birthplace of Hartford, Connecticut. His son Jack, known as J. P. Morgan, Jr., inherited the banking business.
As required by the 1933 Glass-Steagall Act, the "House of Morgan" became three entities: 1) J.P. Morgan and Co. and its bank, Morgan Guaranty Trust; 2) Morgan Stanley, an investment house; and 3) Morgan Grenfell in London, England, an overseas securities house.
Morgan was a notable collector of books, pictures, and, other art objects, many loaned or given to the Metropolitan Museum of Art (of which he was president), and many housed in his London house and in his private library on 36th Street, near Madison Avenue in New York City. His son, J. P. Morgan, Jr., created the Pierpont Morgan Library in 1924 as a memorial to his father and kept Belle da Costa Greene, his father's private librarian, as its first director.
Morgan was also a benefactor of the American Museum of Natural History, the Metropolitan Museum of Art, Groton School, Harvard University (especially its medical school), the Lying-in Hospital of the City of New York and the New York trade schools. In his satirical history of the United States, It All Started with Columbus, Richard Armour commented that "Morgan, who was a direct sort of person, made his money in money... He became immensely wealthy because of his financial interests, most of which were around eight or ten percent... This Morgan is usually spoken of as 'J.P.' to distinguish him from Henry Morgan, the pirate."
It has been noted in congressional record of 1917, that J.P. Morgan interests took control of the United States media industry: "In March, 1915, the J.P. Morgan interests, the steel, shipbuilding, and powder interest, and their subsidiary organizations, got together 12 men high up in the newspaper world and employed them to select the most influential newspapers in the United States and sufficient number of them to control generally the policy of the daily press....They found it was only necessary to purchase the control of 25 of the greatest papers... An agreement was reached; the policy of the papers was bought, to be paid for by the month; an editor was furnished for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies, and other things of national and international nature considered vital to the interests of the purchasers." - U.S. Congressman Oscar Callaway, 1917.
Nelson Kruschandl - Entrepreneur looking for investors
SOLAR COLA as an INVESTMENT OPPORTUNITY?
The soft drinks market is a tough place to do business, unless you have something different to offer and the marketing muscle to match.
For nearly 100 years Coca Cola and Pepsi Cola have dominated the marketplace with similar products, but at this time they are losing ground to newer drinks with something more to offer. Each company spends around $600-800 million dollars a year to maintain its market position. The advertising centers around sport and music, with a scattering of irregular television campaigns. Each company launches (or attempts to launch) new brands every year. So far, they have not proved as successful as their regular cola brands and brand loyalty is an obstacle.
Red Bull, although in a different drinks category, spends not quite as much on advertising, but has managed to acquire instant status and volume sales from sponsoring formula one, the Darpa Desert Challenge, and now the New Jersey MetroStars football team.
A taste for adventure capitalists
Solar Cola - the healthier cola alternative
Solar Cola, apart from it's contemporary name, is a healthier cola based drink. Just as refreshing, it contains a unique blend of added ingredients as an aid to good health and energy levels. The company contributes to and sponsors alternative projects, to include this website, featuring movies, music and several thousand pages of general information, which generates in excess of 3 million visits a month already. Recent acquisitions include the rights to the Solar Navigator World Electric Challenge - 2009/10, and also the new Bluebird Electric land speed record car for 2007/8. The company may also sponsor the London to Brighton Solar Car Run in 2008 (dependent on the number of university entries received).
It is thought that this marketing strategy will equal several hundred thousand dollars of conventional Ad Agency spending. As an example of the kind of media coverage such nautical antics generate, you have only to look at the newspapers when Ellen Macarthur completed her world circumnavigation. The same was true for Sir Francis Chichester and Sir Robin Knox-Johnston.
The design of the Solar Cola can is copyright protected, with trademark applications in the USA, Australia and Europe pending in Class 32 and granted rights in the UK. Introduction of the drink is held in abeyance pending official launch of one or other sponsored projects, which will be activated when the time is right, such activation to coincide with the market introduction of the drink.
Solar Cola PLC is shortly to be activated for online investment as their trading arm. The company is forecast to produce excellent results for investors, with sustained growth to be followed by an eventual flotation on the Stock Markets of the world in the next five years. At this point estimates suggest investors will reap substantial gains - in line with international Licensing expectations.
Solar Cola Ltd is managing the funding requirement for the trading company. They are looking for medium term or seed investment between £4-5 million in total to kick start phase two of the venture. Accordingly, this may require co-operation between, and several Angel investors, or a mix of Equity House and private investors.
If you are a Business Angel, or Equity House, looking for an opportunity with the potential for good returns, please contact SOLAR COLA LTD for details of their business plan. Or for and informal chat, please ask for the funding project manager: Nelson Kruschandl
+ 44 (0) 1323 831727
+44 (0) 7905 147709
REFERENCES and LINKS:
This material and any views expressed herein are provided for information purposes only and should not be construed in any way as a prospectus or offer. Please contact the company concerned for information of any business opportunity or specific program. Before investing in any business, you must obtain, read and examine thoroughly its disclosure document or offering memorandum.
This website is Copyright © 1999 & 2006 NJK. The bird logo and name Solar Navigator are trademarks. All rights reserved. All other trademarks are hereby acknowledged. Max Energy Limited is an environmental educational charity.